Cambridge North Station has taken another step forward after Bidwells secured a “multi-million pound” investment from AccorInvest to develop and operate the site’s four-star hotel.
This new hotel will be one of the first investment projects funded by AccorInvest who will be taking a long-term interest in the property. The hotel will be managed by Accor under the Novotel brand.
Saul Western, Partner, Capital Markets, Bidwells, said:
“It's great to see Cambridge North taking shape. Like us, Brookgate is committed to realising the full potential of the city of Cambridge and we are delighted to have secured a hotel operator and funding partner for this scheme that shares in these value”
Located at Cambridge Square next to the station and due to open in Autumn 2020, the 217-bed Novotel will feature a restaurant, bar, gym, 10m swimming pool and conference facilities, providing much needed amenities around the station ahead of further development to bring homes, shops and offices.
As the first commercial building post-opening of the station in May 2017, this is a major milestone for Brookgate and the landowner Network Rail, who have been working jointly over the past 5 years to realise development opportunities at Cambridge North.
Site enabling work has already commenced to service the hotel and wider development plots. Hotel construction will start this month and once completed, the hotel will bring over 60 full time jobs to the area, as well as providing many employment opportunities during the building phase.